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Illinois farm cash rent 2023

ILLINOIS CROP-SHARE CASH FARM LEASE - FarmDoc 2025

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The document is an Illinois Crop-Share Cash Farm Lease agreement outlining the terms and conditions between a landowner (Lessor) and a tenant (Lessee) for agricultural use of land. It includes provisions for crop sharing, cash rent, responsibilities of both parties, management procedures, and legal rights. The lease specifies the description of the land, length of tenure, division of crops, investments and expenses, Lessee's duties, default conditions, and additional agreements. It emphasizes the importance of mutual consent for any amendments and encourages consultation with legal counsel.

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How much does farmland lease for in Illinois?

The National Agricultural Statistics Service (NASS) reported the average cash rent for Illinois in 2024 at $269 per acre, up by $10 per acre from $259 per acre for 2023 (see Figure 2). The 2024 rent is another new record for Illinois and continues a trend of significant increases since 2020.

How much does farm land lease for?

At $160 per acre, the average rate to rent cropland in the United States in 2024 was $5 higher than in 2023. The average rate per acre for irrigated cropland was $245 (up from $237 in 2023) and non-irrigated cropland was $146 (up from $142 in 2023).

Is leasing farmland profitable?

Leasing farmland to a tenant can be a lucrative venture for landowners, offering a steady stream of income without the need for active involvement in farming operations. One of the key advantages of leasing farmland is the financial stability it provides.

What is farmland worth per acre in Illinois?

ing to the USDA-National Agricultural Statistics Services (USDA-NASS) survey released in February 2023, Illinoiss farm real estate value experienced a 4.5% increase, averaging $9,300 per acrean annual growth of $400.50/acre.

What is a 1 3 2 3 crop share?

Cash-rent tenants means a producer who rents land from another producer or landowner for a fixed cash amount or fix quantity of crop or crop proceeds.

What are common mistakes to avoid in farm lease agreements?

Farm Land Lease Contracts Common mistakes to avoid when creating a lease contract include vague or incomplete language, failure to address potential disputes, and overlooking important details such as payment schedules and renewals.

ILLINOIS CROP-SHARE CASH FARM LEASE - FarmDoc 2025

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